Bitcoin Forum

The electricity bill in Nigeria is expensive and the light is not even constant and so is not profitable for mining bitcoin.Other means of generating are  expensive also.
Is there any Bitcoin miners in Nigeria?
If there is any, I have some questions

• how profitable is mining here?
• Are you mining as a solo miner or through a mining pool?
• what is the cost of setting it up?

You can read this to have more information about mining in Nigeria:

https://bitcoinmagazine.com/business/nigeria-bitcoin-miners-will-profit#:~:text=Nigeria%20is%20leading%20Africa%20in,challenges%20to%20find%20economic%20freedom.

According to the article, it is stated that the whole Africa are responsible for only 2% of bitcoin mining hashrate generation.

Although, there are miners in Nigeria, according to this research: https://ccaf.io/cbeci/mining_map, also in other Africa countries most especially the white African countries, Nigeria, South Africa, Angola etc.

There are some regions in Nigeria that electricity is constant. I remember when I was in North part of the county, Katsina. If the light is not good in their GRA, they still have more than 12 hours of light, but if their light is good, they get over 23 hours of light daily. Also in Batagarawa, a local government in Katsina that I have gotten to, they almost have regular light supply. But I do not know about now.

I was on a call with a friend sometimes ago, he told me how electricity in their area is very good. That is in Western part of the country.

But generally, we have poor electricity supply in Nigeria. In my area, we hardly have light and now the transformer is not good again after it was repaired 2 weeks ago. If you want to mine in Nigeria, you can do more research about where there is good electricity supply, so far you can pay for the electricity that you are using.

But the problem is, the electricity that is good here today may become bad, you should be prepare to change your location again. I am not a miner, so I may not have the accurate information. But I know that there are some miners in Nigeria, although they contribute negligible hashrate to the bitcoin network.

I believe bitcoin mining would be profitable in Nigeria, if you can have access to public electricity, not from diesel or petrol powered plant in your house. Mining with solar may also not be profitable in Nigeria.  (https://bitcointalk.org/index.php?topic=5434951.msg61603554#msg61603554)

Bitcoin mining difficulty has reached a very high level to the extent that solo mining has become not profitable unless the solo miner is very lucky. Best to join a mining pool.

It depends.

If you want to know more about the cost, research more on:

• ASIC cost (go for better ones that is generating terahash up to 100
• Cost of electricity the miners you bought will be consuming per certain period of time
• Also you may need cooling machines
• Cost of electricity the cooling machines will be consuming per certain period of time

Know that ASIC are making noise. You may need sound proof materials. I think you should make more research on this.

Overall the major issues Nigerians face in mining bitcoin is electricity but is mining altcoin like Bch, Doge and others profitable.

Mining bitcoin can also be profitable, also mining altcoins. It depends how close you are to access constant and cheap public electricity just like I explained above. But generally, electricity supply in Nigeria is poor.

It's just the knowledge and the funds to start the mining of a thing; if not, it could have been less expensive for me to conduct. 
I am lucky to come from a part of Nigeria where electricity is totally free. 
It could have been a bit profitable since electricity bills will be deducted from all budget expenses. It's just your maintenance that's if any of your appliance is damaged..

 
If there is anyone planning on starting a mining company, I will definitely recommend Onelga LGA in River State, Egi, precisely because that's one place I know for sure that one is not going to think of all sorts of electrical bills and government settlements.

I misread the OP as "Bitcoin mixers" in Nigeria.
Actually it is easier to have a Bitcoin mixer company than to mine Bitcoin in Nigeria. This is important now that chipmixer has paved way in the industry.
Talking about bitcoin mining in Nigeria, I believe we have discussed that in this board before where it was asked if the is a bitcoin mining pool in Nigeria?
If there's link to the thread it should be provided because it discussed it extensively.

Can you enlighten me about the Bitcoin mixer

Let's assume you bought a coin of $1200 from "Mr. Satoshi" and because he has your wallet address and because the whole concept of Bitcoin is transparent and anyone with your wallet address can monitor or track whatever transaction that you do (in this case Mr. Satoshi) and even if you decide to transfer your coin to a new wallet address they still can track it.

If you don't want them to track your transactions again that's where Bitcoin mixer comes in to save the day.
It's quite very easy. Create a new wallet address, go to a good bitcoin mixer and deposit you bitcoin into the deposit address generated by the mixer, and after sometime, your coin will be sent into your new wallet address (from a different wallet) that way no one except you will know who owns your new wallet address.

And if you still don't get it you can just click on my signature and navigate around the mixer to know how it works.

Yeah electricity is a major problem in Nigeria even outside of the fact of its involvement to mining. Starting a mining farm here in Nigeria is going to be really difficult especially as our government also has a restriction to crypto related issues but the good side is that it's like they have started embracing the fact that they can actually harbor some benefits from taxing of crypto related transactions and have decided to train some people on cryptography technology. but one thing is still missing from all ends, which is the lack of knowledge of the technology surrounding crypto. I could bet that even if Nigeria had stable electricity, most Nigerian don't know much about harnessing the benefits that comes with crypto. I think a firm or training institute should be put in place for people or individual to actually study the technical aspects that's surrounds crypto.

Electricity in Nigeria is the major issue in the Mining field, yes as you said electricity tariff rate is very high, I paid #10,700 for my apartment last month and when I asked the cashier about the hike fee of the bill, he told me that because light was coming regularly that was why the hike of price came, and I tried to know from him that the more the regularity of the light the more the bill increase and he told me with capital letter YES. So think of it how much one will pay if using NEPA light for mining.

Yes there are Miners in Nigeria and they are not depending on the Nigerian public light. But private light. Mining is one of the profitable investment in the crypto ecosystem. Each mining they make there is a unit of bitcoin they received. Like each transaction you make, the nodes in the blockchain made there percentage and that is the Mining fee you pay when sending coin from your wallet. I am not a miner and I believed Solo mining is preferable to pool mining, but if group people come together they can go for pool mining else solo is nice. The cost is depend on the cost of the equipment, in Nigeria the electricity will be the highest cost.
And in the electricity aspect, I will recommend Solar System for having 24hrs light. And that will cost you #300k which can carry whole system.

According to Charles-Tim reply Solar may not be profitable and also the drawbacks I see in solo mining is how profitable is solo mining during rainy season?
I don't think solo mining would be effective now since bitcoin mining is becoming harder for altcoin it may likely be better

If solar wouldn't benefits Miners they would not used it, if I am not mistaken or I have forgotten the country, but I believed in Russia, they have a mining firm that uses Solar System. But what I will say is, if you want to use Solar System in Nigeria for mining it will affect you because of the weather condition in the Country, but if you are at the northern part of the country then it might favour you to some extent but if it is at the South South then you will run with lost. Therefore, you can backup with a generator then from the month of November to March, you can use the Solar System very well.

I will say yes. All depends on your effort. If others are using it to make money, you can also make it from it. Bitcoin mining is not becoming more harder, they way it was that is how it is. The only problem we have in this part of the world (Africa), is our leaders who do not support bitcoin in their domains and also the inefficient of electricity.

You wan dey mine altcoins, altcoins wey go just fit vanish from the market without leaving a trace on how e waka? Even Bitcoin mining is not even advisable to engage in such since profitability no be something you fit associated with am for this side. I never hear say any Nigeria dey mine and all those things you dey see online like phone mining and cloud mining na just waste of time and I no go advise anybody to believe this things. Infact if you dey mine anything with your phone like actually mining and not the ponzi schemes wey full everywhere then you dey do more damages to your phone than any profit wey dat mining go give you.

If you dey find wetin go give you profit in the cryptocurrency industry there are better things to engage yourself with which are better than mining especially for Africans. We get trading, investing wey dey in different forms. This investing na broader topics so I go leave am but you see the basic investment strategy wey be say you go just buy and hold a coin is actually more profitable than mining. You see all the capital you go need to start up a mining farm, if you carry am just buy Bitcoin and hold, at the end of the day you go cash out majority and no forget the expenses for mining no dey end for the set-up day

All miners in the world face the challenge of electricity, but I found that Nigeria had one of the cheapest electricity supplies, so the biggest challenge is irregular electricity supply. Electricity regulations are not applicable to bitcoin mining, as they are everywhere else. The other challenge is assembling the gadget for mining, which is not cheap

Is it postpaid or prepaid? I guess it is postpaid, not accurate calculation of the amount of electricity used.

As far as I know, electricity usage is not high in Nigeria if compared to western nations, and US is having the highest bitcoin mining hash rates. Purchasing power in those developed countries are much more than in Nigeria, also goes to electricity cost.

Maybe this can be helpful about electricity cost: https://www.globalpetrolprices.com/electricity_prices/

You can use the link to check both for household and business. Also use the methodology used.

Do you have any prove that bitcoin miners in Nigeria do not depend on public electricity? Do you know that there is possiblity of miners to use public electricity and pay less? We are Nigerians and I have read many news like that in China before the crackdown on mining that got mining hashrate to zero in China before it started to increase back again.

About mining with solar, maybe it is possible that is can be profitable. I put a link up there about a question I asked on mining discussion and experienced miners and other posters are pointing towards mining may not to be profitable in Nigeria with solar. Although, you can give it a try, but it is not what I can risk money on.

About supporting the mining with generator. Have you on your generator normally before with certain amount of fuel and see the amount of hours it will take before the whole fuel is consumed? If you use air conditioner, the hours can be reduced to divided by 2 of the normal hours it supposed to use. Miners are consuming electricity and it is like you are underestimating it. Mining with fuel generator will only lead to loss, even if used as support.

Maybe you just want to use the solar to power your energy reserving less consuming energy light bulbs, blender, television and laptop which are less consuming electricity and I still do not think 300000 naira solar with battery can power those I just mentioned with 12 hours supply. It will only surprise you that the power supply is not sufficient to power just one modern day ASIC that generates up to 100 terahash per seconds.

If you need a solar panel, with battery to power such miner, you will spend million of naira on solar power. Also do not forget about the maintenance costs. Expect those Chinese battery not to last more than 3 to 5 years. Also solar panel may be bad or not be functioning properly again and may need replacement.

Cloud mining are just scam. Phone mining is rubbish and also it is just no more than cloud mining because you will still depen on thrid party most likely (I mean bitcoin mining). Even how much hash rate phone can generate? Absolutely waste of time and waste of phone battery power. If anyone wants to mine, the only way now is to just join a mining pool with your miners which is what this thread is all about, or to be a solo miner if you are rich enough to become one, to the extent that it can lead to you having a mining pool.

About trading, it is easy to start, but it can be riskier than mining. I will advice just investment, or to just use the amount of money that someone can afford to lose to trade.

To use solar for mining is very expensive and I will not advise anyone to try this. You said #300k,this amount is too cheap to get on solar to mine bitcoin. At least up to #2m worth of solar panel and the installation, na e go fit mine bitcoin. Solar should be used as an alternative in mining, maybe you can use it when the sun is high and in the evening, you swap to electricity or vice versa. In raining season how will you mine bitcoin when there is no sufficient sun to use. Therefore solar mining is very expensive to use and will be impossible for an average Nigeria to mine solo. Electricity is very cheap in Nigeria compare to oversea but our problem is that light is constant like foreign countries. Also put in consideration that bitcoin was banned in Nigeria and if you are a miner you might just get caught up with the law,because na CBN itself dey against bitcoin.

I guess this is what you mean:

Electricity is very cheap in Nigeria compare to oversea but our problem is that light is not constant like foreign countries.

CBN has no say on bitcoin and crypto mining mining generally. I do not know if those that are distributing electricity has say on it, but highly likely. Also definitely the government has say on it.

You are correct mate, Onelga is one of the local government areas with constant power supply in Rivers state Nigeria as an oil producing community they don't have to pay for the constant electricity they receive. I have been their countless time and it's a plus for anyone planning of where to settle a mining farm.

Another place still in Rivers state of Nigeria that enjoys uninterrupted constant power supply is Bonny LGA, also an oil and gas producing LGA, recently they celebrate decade of uninterrupted power supply in their communities , all unpaid for as part of what they benefit as host community to the oil exploration companies. These are sites that can be economical and profitable for potential miners in Nigeria.

You can come straight away to Onelga and start your mining company. Let me be your landlord; I will probably give you a space at a discounted rate 😏

Jokes aside, this thing that a few areas are enjoying in Nigeria could have been possible all over the country if our resources were being managed properly and channeled in the right direction. Electricity should not have been part of the calculated challenges Nigeria should face. 

I am a solar expert to some extent. A Solar that can carry a deep freezer and TV, electric iron can not carry the Mining machine? Let me give a break down of the solar I am using which is not up to the #300k that I earlier mentioned. Solar Panel 150W #36,500 x2, Controller #10,000 x1, Battery 200A, #120k, x1, Inverter 1KVA #45,000, Cable (2yards) #18,000 and Labor #15,000 and the sum total is #244,500 now what you just have to do is to add one extra battery. Backpack Bag Bitcoin Mining Machine is also there to use which can be put at your back move it along. Therefore the 1 million you mentioned is for a very big solar generating plant.

How do know that to use Solar in Nigeria is too expenses or are trying to make a guest work. It is nor. Do you know that people are mining bitcoin in their rooms, or palours? What do you think they are using, is it electricity plant? This are the statement people made that is making others to be afraid to go into mining business, mining is not expenses as you thought.
My broda that is GAS TOBINE and it is not NEPA as piple sae. Gas Tobine is most found in the rural areas, come to my LG, you will see dem many. Gas Tobine is good but when it has easy my broda in some times it take months for the Shell company to fix it for the community even though they have light in the House Boats.

Brotherly ONELGA go make sense die since them they get steady light because most of the electric plants there they use gas turbine.The place also make sense because na semi- urban area and the place also get basic amenities way fit make life sweet small. But my only issue with the place na insecurity. Bro. The place bin raze to the extent say people bigin dey sell their property cheap. If those men come get intel say you dey mine Bitcoin, them go just open office for your head. Before you know elders, youths even women go begin come for compensation because them go feel say you dey make billions for their community.


Although I never get info about electricity for Bonny Island but the place fit bi the ideal place for this mining project. The place dey peaceful and them still get the same oil company settings like ONELGA. You fit even run electricity package with some companies their if you get connection for the firm.

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Another thing wey fit discourage miners for Naija na the cost of importing mining equipment. I no sure say any company for Africa dey produce those facilities. Another Wahala fit bi how to maintain the facilities because people wey dey fix am fit no dey for our country.

But I no lie oh, this mining business go bi very coded way to make small money because many people no go know wetin you dey produce.

TV does not that consume electricity. Freezer and Iron consume electricity, also air conditioner and pumping machine.

1 horsepower (HP), 920W in average
Iron, 1100W in average
Modern freezer, 310W in average. You can tell us yours because it may be below or above 310W.

On a generator that has 2100W running capacity. Use it for only bulbs and see the hours it would last. Use it with only freezer too. Use it with only AC too and see how it would consume the fuel very fast. Or use it only with iron on for hours and see how it will consume the fuel very fast.

Okay. Let us talk about solar. It uses use use battery with it. The more the electricity consumed the more you need more solar panel and more batteries.

A solar of 300000 naira may not be able to power AC. What wattage is your Solar generator? And when did you buy and install the solar generator for us to compare inflation rate? With it, we would be able to easily know if it can power AC, but I doubt that solar generator of 300000 naira would be able to power 1hp AC successfully.

Iron wattage is higher than AC. Average of 1100W for iron.

Let us now discussed about miners.
You can no more use CPU, neither can you use GPU to mine bitcoin again because of the mining difficulty that has significantly increased because of increase in mining hash rate. Bitcoin mining requires ASICs. Let us talk about 2 Antminers that miners can use profitably these time, provided if electricity supply is cheap.

Bitmain Antminer S19 Pro 110TH - Bitcoin Miner, 3250W
Bitmain Antminer S19 XP 140Th - Bitcoin Miner, 3010W

Three times more power required than iron, almost 4 times or more than 3 times more than 1hp AC.

For more profit, a miner may need more than 1 modern ASIC and just 1 ASIC consumes electricity far more than the appliances that we use at home to generate high hash rate to make mining to be profitable using cheap electricity.

You need more solar panel. You need more batteries. There are days sun is not going to come out at all during raining days, although Norther Nigeria is hotter and better. During hot days, you may need coolers or cooling machines that will also consume electricity. You need more money for electricity if you want to mine with solar. Maybe profitable, but you need to make appropriate calculation for not to run at loss.

About using plant, I have discussed about it while commenting about using solar just now up on this post, no need for me to repeat it again.

You can not mine bitcoin in your room or living room, ASICs make so much noise that humans around a miner can not bear with. You can use a separate room with sound proof materials and also use noice reducer or so on your miner.

To be frank with you OP, bitcoin mining as we all know needs constant electricity power supply and I believe we into the bitcoin system knows that very well. With the epileptic power supply  facing the country is nothing to write home about.  Although there are some part that receives constant electricity power supply but based on knowledge and information, they are not properly informed about this and I really do not know if they can be able to set up the facility for mining of bitcoin.

@Charles-Tim what you have said about the electricity power supply of the north is nothing different from the truth. Like in zamfara, kaduna and Abuja where I once was do enjoy nearly  24 hours electricity supply but I doubt if they are really aware or can be able to do this there.

The use of bitcoin in nigeria is consider illegal because CBN itself has made it clear that bitcoin shouldnt be transacted with any bank so nigeria having bitcoin miners is still of suprise to me because this act will just attract the authorities to you. And even if there are possible miners here, i think they are not many and it would definetly be solo miners because i would say its imposible to commence pool mining because of the lack of the many criteria that involves bitcoin mining.

I also know of a place in Nigeria with a 24/7 electricity power supply and it is absolutely free because of the presence of the power station there and the agreement the company held with the host community.

I once lived in Afam oyigbo in Rivers state where I discovered that meh the light there was something else and for the period of the 1 year Iived there, the only took the light once and that was because the transformer had a little issue but the light was fixed in less than 3 hours and that was when I began thinking of the possibility of having a mining pool or farm as the case may be and I also tried writing to some persons and entities but got no reply then.

If there is anyone in Nigeria who's into mining and at some point needs a place with absolutely free and constant electricity, then Afam oyigbo should be considered because of the presence of the Afam power station there.

Small small this thread don dey bring good places wey person fit go set up mining business. I bin go visit my friend for Afam one time and the guy carry me go the electricity generating plant. My people I see massive big generator wey dey produce power. My man even tell me say dem no dey pay NEPA bill because na the community dey host NEPA but the light no too steady the way eh dey before because some of the generating set done spoil. Dem arrange some of those power generators since 1982 and the government no dey maintain the station. But I still agree say Afam na good place to mine if them dey still they get constant and free electricity.

I no really know of the situation of the light  since late last year but I know say for the time I been dey there , Afam have been one of the places with highest hours of light (24/7, that's if nothing is wrong with the transformers.) And you wan sweet aspect of their light be say we no been dey pay Nepa bill and even if light spoil, them no go fit tell tenants  to make any unnecessary contributions.

So I go boldly advice people to go check that place out and I promise you say you no go regret your decisions and where problem fit dey na when it comes to cooling and na that one fit consume money comot from the miner hand.

This topic go Sha because as it stands now we din begin know places for some areas now wey dey get steady electricity supply. E good make we for know Weds person go fit for ant of those places go start up something wey dey always require constant power supply. E get one place wey Dem tell me for orashi say light dey dey there steady non stop. Even if e go under like atmost 30 minutes Dem don bring am back. You see ehn how I wish the people living in these places get the idea of bitcoin mining, them for do. Begin am sharp sharp without any delay but as e b Dem no get idea Dem no even know wetin be bitcoin even the ones wey know no get the resources to start up bitcoin mining. Abi na Bonny wey dey use gas turbine with twenty four hours light. You see, truly information and education is powerful.

True true education na power but I no sure say this ideology reach Bitcoin mining because e get plenty people wey already know about mining but I believe say you already know say Bitcoin mining no be small work and a d very expensive work wey dey require plenty money and some times the reward no dey really worth am na e make most persons dey prefer mining pool to farm.

I go like be part of any mining farm but I know say anybody wey successfully set up Bitcoin mining farm, no go want temper with am because he already know how much he don invest and he no go want compromise those investments especially getting people wey fit later batray am.

Like I been talk am say bitcoin mining dey very expensive and the people wey dey around those axis wey light dey steady no too fit get the resources to start up the bitcoin mining farm and people too wey get the Idea probably no dey that side so to dey setup that facility for those areas go need constant monitoring and inspection which we all know say na resources wey dey involved for that parol. As you talk say person wey don setup that bitcoin mining facility no fit temper with am again na true Sha because e don spend resources but for somebody to set up such facility, e for good say where the person set up the mining farm na personal property or place wey nobody too dey get access to make e dey protected and too for last long without any disturbance.

If you read Charles-Tim (https://bitcointalk.org/index.php?topic=5447392.msg62050582#msg62050582) replies, you will see why mining bitcoin with solar may not be profitable and its seems like the best is still getting electricity from Bedc but I'm planning on researching about how biogas energy might be profitable though.

You forgot to mention the Onne / Eleme part of Rivers State. They too are a local government with the presence of multinationals there. They have sea port and gas turbine is used to power their electricity as they are oil rich city based on my findings.  That axis of the state would have been preferably a hub for blockchain enthusiast most especially the miners because there they have 24 hours power supply which is favorable for miners to run their bitcoin mining farm. They do not pay electric bill just  as @lida93 has stated and that has been the normal thing going on there.

The use of bit on in Nigeria is not illegal. That is a wrong Information. CBN has nothing to do with Bitcoin mining in Nigeria. CBN only ban crypto currency transaction through banks and not even p2p. Though I have not seen any mining in Nigeria, and I do not know if there is any. I believe Binance company has the mining equipment in their office and presumably they do mine. But I am not sure. If Nigerian government ban the uses of cryptocurrencies in the country, they would not accept exchange.

Mate no vex o. I dey wonder as this paddy man take dey get him update say bitcoin dey illegal for Nigeria and  CBN don ban am . Omo CBN na National assembly to make and pass law?
To The Best of my knowledge, cbn only prohibited the banks from carrying out any Crypto currency related transaction in Nigeria but Dem no ban am. Na national assembly fit sit talk about am then pass into law. As far as I am concerned, bitcoin no dey illegal for Nigeria not until national assembly talk and pass am into law say make Nigerians no deal on Crypto den I go believe and agree say bitcoin dey illegal for Nigeria but as it stands now bitcoin no dey illegal for Nigeria. Na just for fear say make police and efcc no use person shine naim make every Oman dey mind him ways with bitcoin and Crypto publicly.
Prevention is better than cure.